Cement News tagged: Corporate
Four-bidder shortlist for Halla Cement stake
Four bidders have been shortlisted for the full stake in South Korea’s Halla Cement, the country’s fourth-largest cement producer. Hong Kong-based Baring Private Equity Asia, the largest shareholder of Halla Cement, and its sales advisor Citigroup Global Market Securities Korea have shortlisted four potential buyers: three strategic investors – Asia Cement Co, Sungshin Cement Co and Aju Cor...
Cebu's Board of Investment approve South Western Cement Corp's 2Mta new plant
A new PHP12.5bn (US$245m) cement plant for South Western Cement Corp (SWCC) in Cebu is one of the largest projects approved by the Board of Investments (BOI) in August. The planned 2Mta cement plant wil be completed in two years' time and will serve the Visayas and Mindanao markets. SWCC is a wholly-owned subsidiary of listed firm Eagle Cement Corp. The cement producer owns mineral righ...
Kohat Cement Co reports FY17 profit fall
Kohat Cement Co Ltd (KOHC) of Pakistan has reported a FY17 profit after tax of PKR3.54bn (US$33.5m), a drop of over 19 per cent YoY. Total sales of the cement producer fell to PKR13.54bn during this period from PKR14.019bn of FY16. The company incurred selling and distribution expenses of PKR129m, and administrative and general costs of PKR163bn compared to PKR154m and PKR133m, respectively,...
Hetauda cement completes kiln and cooler maintenance work
The state-owned Hetauda Cement Factory in Nepal resumed operations from Friday after being closed for 36 days for maintenance. A team of 35 technicians from India disassembled the cement plant and repaired the grate cooler and kiln. "We have already given continuity to cement production after completing repair and maintenance works," said Prem Shankar Singh, general manager of Hetauda Ceme...
Federated Investors sell shares in Summit Materials Inc
Federated Investors Inc PA lowered its position in Summit Materials, Inc by 65.5 per cent in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,883 shares of the construction company's stock after selling 274,734 shares during the quarter. Federated Investors Inc PA owned approximately 0.14 per cen...
PT Indocement Tunggal Prakarsa launches Tiga Roda (TR) Slag cement
PT Indocement Tunggal Prakarsa, Tiga Roda cement (HeidelbergCement group), has launched its new Tiga Roda (TR) Superslag cement product. President Director of Indocement, Christian Kartawijaya, said the rapid development in Indonesia demands a new breakthrough in the world of construction. Slag cement is the answer to market demands for low-heat hydration cement as a mass concrete raw materi...
AfriSam wins two SARMA awards
South African cement producer AfriSam dominated at the recent Southern African ReadyMix Association (SARMA) awards by winning two of the four accolades bestowed on the industry’s top performers for 2017. SARMA’s annual awards, held in Gauteng during the Concrete Conference in August, saw AfriSam receive both the 'Best Plant' award for its Wynberg ready-mix facility and the 'Best Fleet' award...
Cimpor's 1H volumes down 2.7 per cent
Cimpor reported that first-half 2017 EBITDA growth in Argentina, Paraguay and South Africa, and to a lesser extent Portugal, mitigated adverse operating environments in the company’s other group regions. Sales of EUR921m (US$1.096bn) rose 2.6 per cent YoY. An average price adjustment of 10 per cent offset lower volumes. EBITDA of EUR166m was 2.6 per cent lower compared to 1H16 on the back o...
Monarch Cement sees 7% net profit rise in 2Q17
The Monarch Cement Co reported in a SEC filing a one per cent YoY increase in consolidated sales from US$45,105,834 to US$45,593,593 in 2Q17. Net profit rose by seven per cent to US$6,026,881 in 2Q17 from US$5,635,139. For the six months ended 30 June 2017, the company’s consolidated net sales reached US$76.835m, up 2.9 per cent from US$74.673m in 1H16. Monarch Cement primarily supplies...
Carlos Slim enters Costa Rican cement market
Cementos Fortaleza, owned by Carlos Slim, will commence operations in a few weeks in alliance with Plycem, which is also part of the Elementia group owned by Carlos Slim and Mexican entrepreneur Antonio del Valle Ruiz. The joint venture is scheduled to inaugurate a cement plant in Barranca, Puntarenas, at the end of September, according to the Federal College of Engineers and Architects (CF...
Maple Leaf FY17 net profit dips
Pakistan-based Maple Leaf Cement Factory Ltd (MLCF) reported a net profit of PKR4.77bn in FY17, a decline of two per cent on a YoY basis. Revenue was up by two per cent YoY to PKR24.0bn for FY17. Finance costs of the company declined by 27 per cent YoY to PKR318m during FY17. Along with the results the company also announced a final cash dividend of PKR1.75/share taking cumulative DPS to P...
Dangote earns US$86m in revenues from Ethiopia
Dangote Cement earned revenues of more than US$85.8m from its plant in Ethiopia in the financial year that ended 8 July. Export volumes of more than 2Mt contributed significantly to sales revenues, including some US$1m from export sales to Kenya and Djibouti, according to Tariku Alemayehu, Dangote Cement’s deputy director of sales and marketing. Dangote Cement’s plant is located near the...
PIC reportedly backs joint offer for PPC
PPC'S largest shareholder, Public Investment Corporation (PIC), is supporting a joint offer for South Africa's biggest cement-maker from domestic rival AfriSam Group and Canadian insurer Fairfax Financial Holdings, as the merger would create a national champion, according to people familiar with the matter, reported in the Cape Argus. The enlarged cement producer will be able to benefit fro...
Attock Cement reports flat 4Q earnings, full-year rise
Pakistan cement producer Attock Cement posted flat net earnings in 4QFY17 of PKR796m (US$7.5m) against the same period of last year, the company said in a note to the Pakistan Stock Exchange. The result took full-year earnings in fiscal 2016-17 to PKR3.303bn, up five per cent YoY versus PKR2.89bn in the previous fiscal. Revenue in FY17 rose by six per cent YoY to PKR14.7bn thanks to a ri...
New managing director for Cementa
Magnus Ohlsson has taken up his new position as Managing Director of Swedish building material company Cementa. Mr Ohlsson has worked for Cementa and its parent company HeidelbergCement for many years. Since 2014 he has held the position of Marketing Manager and Vice President of Cementa. "I look forward to pushing Cementa further in the same positive spirit," said Mr Ohlsson in a press sta...
Sika establishes El Salvador subsidiary
Sika is continuing to expand its presence in Central America and is setting up its 99th national subsidiary in El Salvador. The company will thus be represented by its own sales and distribution organisation in the small Central American country with over 6m inhabitants. José Luis Vázquez, Regional Manager Latin America: “Sika already has a strong market position in El Salvador, as we have b...